Debt

Long-term debt as of February 27, 2016 and May 30, 2015 consisted of the following obligations:



(In millions)	February 27, 2016		May 30, 2015
Series B senior notes, due January 3, 2018	$	149.8	$	149.8
Debt securities, due March 1, 2021	50.0		50.0
Syndicated revolving line of credit, due July 2019	40.4		90.0
Total	$	240.2	$	289.8

On July 21, 2014, the company entered into a third amendment and restatement of its syndicated revolving line of credit, which provides the company with up to $250 million in revolving variable interest borrowing capacity and includes an "accordion feature" allowing the company to increase, at its option and subject to the approval of the participating banks, the aggregate borrowing capacity of the facility by $125 million. The facility expires in July 2019 and outstanding borrowings bear interest at rates based on the prime rate, federal funds rate, LIBOR, or negotiated rates as outlined in the agreement. Interest is payable periodically throughout the period if borrowings are outstanding. As of February 27, 2016, the total debt outstanding related to borrowings under this facility was $40.4 million. These borrowings are included within Long-term debt in the Condensed Consolidated Balance Sheet. As of February 27, 2016, the total usage against the facility was $49.2 million, of which $8.8 million related to outstanding letters of credit. As of May 30, 2015, total usage against this facility was $98.3 million, $8.3 million of which related to outstanding letters of credit.